Mortgage industry executives warn that adopting new credit score models like FICO 10T and VantageScore 4.0 could lead to higher mortgage delinquencies and increased costs for borrowers, despite potential initial cost savings for lenders. This shift raises concerns among experts about the need for federal agencies to ensure fair practices to protect consumers and maintain market stability as modernization efforts proceed.
Read the full article at HousingWire
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Ali NematiWritten by Ali
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